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When a company recognizes the portion of supplies used during a year, the effect is to decrease net income. (Points : 5) True False
TRUE. When a company recognizes the portion of supplies used during a year, the effect is to decrease net income.
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User: Every accounting transaction affects both the balance sheet and the income statement. (Points : 5) True False

User: he excess of current assets over current liabilities is referred to as working capital. (Points : 5) True False

User: The process of recording an item in the financial statements is called measurement. (Points : 5) True False

User: When a company recognizes the portion of supplies used during a year, the effect is to decrease net income. (Points : 5) True False

Weegy: TRUE. When a company recognizes the portion of supplies used during a year, the effect is to decrease net income.
Expert answered|alfred123|Points 2856|

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Asked 8/9/2013 8:20:38 PM
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Adjustments are recorded for all transactions involving outside entities. true or false
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Updated 40 days ago|12/10/2016 2:20:00 AM
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Adjustments are recorded for all transactions involving outside entities. FALSE.
Added 40 days ago|12/10/2016 2:19:56 AM
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